23-07-2024 02:50 PM | Source: India Sotheby's International Realty
Budget Reaction on Real Estate by Amit Goyal, Managing Director, India Sotheby's International Realty
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Below the Budget Reaction on Real Estate by Amit Goyal, Managing Director, India Sotheby's International Realty
while maintaining fiscal discipline. The commitment to reduce the deficit to 4.5% and below over the next few years by FM Nirmala Sitharaman, is commendable. This ensures long-term economic stability, high credit rating and FDI inflows for India. In a young nation with a large youth population (40% under 25!), skilling and job creation are crucial.
For real estate transaction, bringing down the long-term capital gains tax from 20% to 12.5% is a welcome step, even if it comes with removal of indexation benefits. This will encourage more liquidity in property transactions. Higher uniformity in long term capital gains tax across different asset classes was a long standing ask of investors.
The push for digitization, efficient land management, and modernized bylaws is also a boost for urbanisation and real estate. This will improve ease of property transactions and strengthen municipal finances through increased property taxes.
The push for digitization, efficient land management, and modernized bylaws is also a boost for urbanisation and real estate. This will improve ease of property transactions and strengthen municipal finances through increased property taxes.
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